Blanket Market Size, Share & Trends Analysis Report By Product (Mink, Fleece, Wool, Cotton, Polyester, Others), By Application, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Blanket Market Size & Trends

The global blanket market size was valued at USD 15.14 billion in 2023 and is projected to grow at a CAGR of 7.5% from 2024 to 2030. The blanket market is witnessing significant growth driven by technological advancements such as smart textiles, digital knitting machines, and eco-friendly materials. Innovations in the textile market, such as temperature-regulating fabrics and sustainable production techniques, enhance product offerings.

The rapid expansion in urban developments and the rising growth of the hospitality industry are projected to drive the demand for blankets. Hotels and homestays prioritize providing reliable and comfortable customer service, increasing blanket consumption. Increased investments in infrastructure development of hotels and other lodging services also uplift the demand for blankets.

Another factor contributing to the increased demand for blankets is the expanding variety of designs and technological advancements in the textile industry. Innovations such as weighted blankets, marketed for their potential to reduce anxiety and improve sleep quality, have captured consumer interest. Furthermore, the availability of eco-friendly and sustainable options appeals to environmentally conscious buyers, broadening the market for blankets. Seasonal trends also influence blanket sales, with higher demand during colder months. However, introducing lightweight, breathable fabrics has expanded their use beyond winter, making blankets a year-round product. Marketing strategies that emphasize the multi-functional use of blankets, such as for picnics, outdoor events, or decorative throws, have also increased their demand.

Product Insights

The polyester segment held the largest market share of 33.8% in 2023. Polyester is a synthetic fiber known for its resilience and resistance to wear and tear. Unlike natural fibers, polyester does not quickly shrink, stretch, or fade, ensuring that blankets from this material retain their appearance and functionality over time. This durability mainly attracts consumers looking for long-lasting, low-maintenance bedding options. Polyester blankets also offer versatility in design and texture, which appeals to a wide range of consumer preferences. Technological advances have enabled the production of polyester fabrics that mimic the softness and warmth of natural fibers. Additionally, polyester can be easily dyed and printed, allowing for various colors, patterns, and designs. This versatility makes polyester blankets suitable for different home décor styles, further driving their popularity in the market.

The mink segment is expected to grow at the fastest CAGR of 10.3% over the forecast period. The growing consumer preference for luxury and high-quality home textiles drives the segment's growth. Mink blankets, known for their exceptional softness, warmth, and plush texture, appeal to consumers seeking premium comfort. As disposable incomes rise, especially in emerging markets, more consumers are willing to invest in luxury home goods, increasing the demand for mink blankets. Additionally, the trend towards home improvement and decor has intensified, particularly post-pandemic, as people spend more time at home and place a higher value on their living environments. With their visual appeal and luxurious feel, Mink blankets fit well into this trend for enhancing home interiors. This shift towards home-centric lifestyles has increased spending on home textiles, including high-end blanket options like those made from mink.

Application Insights

The residential/household segment held the largest market in 2023. The increasing emphasis on home comfort and interior decor drives the segment's growth. As people spend more time at home, particularly during the COVID-19 pandemic, they have invested more in home furnishings that enhance comfort and style. Blankets, essential for creating a cozy and inviting living space, have grown in popularity. Consumers increasingly seek high-quality, stylish blankets that provide warmth and complement their home decor.

Furthermore, the trend towards online shopping has significantly influenced the blanket market. E-commerce platforms have made it easier for consumers to access a wide variety of blanket options from the comfort of their homes. This convenience and the ability to compare prices and read reviews have encouraged more people to purchase blankets online. Additionally, the rise of social media and home decor influencers has played a role in popularizing various blanket styles and brands, further boosting demand.

The commercial segment is expected to witness significant growth in the blanket market during the forecasted period. The growth in the hospitality and tourism industry drives the segment growth. Hotels, resorts, and other accommodations increasingly focus on providing high comfort and luxury to attract and retain customers. Quality blankets are a crucial component of this strategy, contributing to the overall guest experience. The rising number of tourists and business travelers correlates with an increased demand for premium bedding products, including blankets.

Hospitals, clinics, and nursing homes require many blankets for patient care. With an aging global population and a rising prevalence of chronic diseases, healthcare services are expanding, boosting the demand for medical-grade blankets that meet specific hygienic and comfort standards. The ongoing focus on improving patient care quality in healthcare facilities supports this trend, as institutions invest in better-quality bedding to enhance patient comfort and recovery. Additionally, the growing trend of outdoor and recreational activities has spurred demand for specialized blankets designed for camping, picnicking, and other outdoor uses. These commercial blankets are typically more durable and weather-resistant compared to residential ones. The increasing popularity of such activities, especially post-pandemic as people seek outdoor experiences, further fuels the demand in this segment.

Distribution Channel Insights

The offline segment held the largest market share in 2023. Offline distribution channels such as department stores, specialty home goods, and branded retail outlets often provide hands-on experience. Shoppers can buy and take home their blankets without waiting for delivery, which can be especially appealing during colder seasons or when an immediate need arises. Additionally, many consumers enjoy the social aspect of shopping, valuing the experience of browsing, comparing products, and seeking in-store promotions or advice from sales personnel. Another significant factor is the trust and reliability associated with established brick-and-mortar stores. Many consumers perceive these physical locations as more trustworthy than online-only retailers, especially in regions where Internet shopping is still gaining acceptance. Offline channels also offer customer service that can handle complaints, returns, and exchanges more efficiently, providing buyers with security and assurance.

The online/e-commerce segment is expected to witness the fastest-growing CAGR over the forecasted period. The widespread access to the internet and increased usage of smartphones have positively affected the growth of e-commerce platforms. Consumers directly experience the ease of convenient shopping from anywhere at any time. Many blanket manufacturers are adopting the online selling technique. As e-commerce websites provide various alternatives, consumers now choose online over offline purchasing.

Regional Insights

North America is expected to grow at the fastest CAGR during the forecast period. The growing emphasis on home decor and comfort drives the market. As consumers increasingly prioritize creating cozy and visually pleasing living spaces, blankets have become a key component. This trend is fueled by the rise of interior design influencers and the proliferation of home decor inspiration on social media platforms like Instagram and Pinterest. High-quality, stylish blankets are seen as essential accessories for sofas, beds, and reading nooks, contributing to their increased popularity.

Additionally, the North American climate, with its distinct and often harsh winters, significantly contributes to the high demand for blankets. The need for warmth and comfort during the colder months makes blankets a staple in households across the region. The advent of innovative materials and designs, such as weighted blankets and electric blankets, has further boosted their appeal by providing enhanced comfort and health benefits, including improved sleep and reduced anxiety.

U,S, Blanket Market Trends

The U.S. blankets market has witnessed rapid growth in 2023. The hospitality industry's growth drives the demand for blankets. The industry's development prioritizes guest comfort, including hotels, resorts, and vacation rentals. High-quality blankets are essential for providing a luxurious and cozy experience, leading to increased bulk orders from hospitality businesses. As the tourism and travel sectors continue to rebound post-pandemic, these establishments are investing in premium bedding to attract and retain customers, further driving demand. Another contributing factor is the rising trend of wellness and self-care in commercial spaces, such as spas, wellness retreats, and healthcare facilities. These establishments increasingly incorporate blankets into their services to enhance the comfort and relaxation of their clients. In healthcare settings, such as hospitals and nursing homes, high-quality blankets contribute to patient comfort and are often part of the standard equipment, resulting in significant procurement.

Europe Blanket Market Trends

The European blanket market witnessed significant growth in 2023. The rapid expansion of e-commerce in Europe makes it convenient for consumers to purchase a wide range of blanket options from different brands, resulting in market growth in the region. Europe's changing climate with extreme cold winters drives increased demand for cozy and warm blankets.

The UK blanket market is expected to grow over the forecast period due to advancements in textile technology and the introduction of innovative products, such as electric blankets and eco-friendly blankets, to attract customers looking for new products with approved technology. The popularity of comfort and wellness products, such as weighted blankets, is increasing in the UK blanket market. These products are marketed for their therapeutic benefits, contributing to market growth.

Germany's blanket market is experiencing significant growth. German consumers are particularly aware of environmental issues and regularly prefer sustainable and eco-friendly products. It drives demand for blankets made from organic or recycled material. Innovation in textile manufacturing, such as advanced weaving techniques and new, high-performance materials, attracts consumers seeking comfortable, durable, and functional blankets.

Asia Pacific Blanket Market Trends

Asia Pacific held the largest market share of 37.1% in 2023. The rapid urbanization and improving living standards across countries such as China, India, and Southeast Asia have led to a heightened focus on home comfort and decor. As disposable incomes increase, more households are willing to invest in quality bedding products, including blankets, to enhance their living conditions. The trend of nuclear families and individual housing units further boosts the need for more household items, including multiple blankets for different rooms and seasons.

China blanket market has experienced significant demand for blanket. China's robust economic growth has significantly boosted disposable incomes, allowing consumers to spend more on home comforts and lifestyle improvements. People have more money to spend, so there is a greater demand for high-quality, comfortable bedding products, including blankets. This trend is particularly evident in urban areas, where a rising middle class is eager to enhance their living standards. Changing consumer preferences plays a significant role. Modern Chinese consumers increasingly prioritize health and comfort, influenced by global trends and exposure to international lifestyles. A growing awareness of the benefits of quality sleep drives demand for products that contribute to a better sleep environment. Blankets, especially those made from natural fibers and advanced materials, are becoming more popular as consumers seek items that promise comfort and health benefits.

India has witnessed significant growth in the blanket market in 2023. The country's increasing disposable income. As more people enter the middle class, there is a growing capacity and willingness to spend on household comforts and necessities. This financial uplift allows for more significant investment in home furnishings, including higher-quality and more varied types of blankets. Another crucial factor is the shift in climatic patterns and the growing recognition of the need for proper insulation during colder months. While parts of India have always experienced harsh winters, regions that traditionally had milder weather are now witnessing colder spells. It has amplified the need for better thermal comfort, driving the demand for warm and practical blankets. Urbanization also plays a significant role, as city dwellers seek to enhance their living standards with comfortable and visually pleasing home products.

Key Blanket Company Insights

Some of the key companies in the blanket market include Boll & Branch; Chellco Industries Limited; American Blanket Company; Casper Sleep Inc.

• American Blanket Company is a producer of high-quality blankets and home textiles. The company focuses on providing exceptional comfort and durability with products crafted from premium, ultra-soft fleece. Its product line includes a variety of blankets, such as plush fleece, cotton, outdoor blankets, pet blankets, and baby blankets. Each item is meticulously made in the USA, reflecting their commitment to local manufacturing and superior craftsmanship.

• Boll & Branch is a luxury home goods company renowned for its ethically produced bedding and linens. The company prioritizes sustainability and fair trade practices, ensuring all its products are made from organic cotton. Boll & Branch's product range includes high-quality sheets, duvet covers, pillows, blankets, and bath towels, all crafted to provide superior comfort and durability.

Recent Developments

• In April 2024, Boll & Branch announced the launch of Origin Track, a digital platform that enables customers to trace the entire production journey of their bedding from the initial cotton seed to the final product. Customers can access comprehensive details about the origins and craftsmanship behind their purchase by entering a unique lot number from their product tag on the Boll & Branch website.

• In April 2023, Faribault Mill announced the launch of the new collection of National Parks blankets, marking a unique addition to their product line. This initiative features a variety of blankets inspired by iconic national parks, celebrating the natural beauty and heritage of these landmarks. The collection aims to appeal to outdoor enthusiasts and park supporters, offering them a way to connect with and commemorate their favorite parks through high-quality, American-made products.

Blanket Market Report Scope

Global Blanket Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global blanket market report based on product, distribution channel, application, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Mink

  • Fleece

  • Wool

  • Cotton

  • Polyester

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Residential/Household

  • Commercial

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Offline

    • Supermarkets and Hypermarkets

    • Specialty Stores

    • Others

  • Online/E-commerce

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • New Zealand

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa